Venture capital firm 500 Startups has made 10 investments in the past year across sectors such as fintech, AI, and drones, and is now looking at investing in startups supporting vernacular content as well as in Indian brands across categories.

“We are actively looking for startups that support vernacular, so that the solutions reach 80% of India that is not being targeted,” said Shalini Prakash, who heads India investments and operations at 500 Startups. “We are already closing in on an investment in this space.”

PopXo, one of the companies in which 500 Startups had earlier invested, is set to target vernacular markets. 500 Startups expects to make about eight investments this year. “Indian brand stories are also something we are very interested in, especially since the explosion of the middle class would mean more wealth and the scope for more brands to emerge across consumables, fashion and lifestyle,” said Prakash.

The California-headquartered firm has invested in companies such as healthtech startup Niramai, dairy IoT company Stellapps, foodtech startup InnerChef, travel tech Pepo and fintech company FtCash in the past year.

The investments came through its different funds such as 500 Fintech and 500 Durians, with the latter fund investing in biotech company Pandorum technologies, drone maker AUS and debt collection software Moneytor. The fund invests about $100,000 on average in an earlystage company and up to $1 million in follow-on rounds.